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Share Name Share Symbol Market Type Share ISIN Share Description
Helios Underwriting Plc LSE:HUW London Ordinary Share GB00B23XLS45 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  6.00 7.27% 88.50 87.00 90.00 89.50 87.50 87.50 46,110 13:47:06
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 47.6 4.3 25.6 3.5 16

Helios Underwriting Plc Quarterly Syndicate Mid-point Forecasts

18/11/2019 7:00am

UK Regulatory (RNS & others)


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RNS Number : 6521T

Helios Underwriting Plc

18 November 2019

Helios Underwriting plc

("Helios" or the "Company")

Quarterly Syndicate Mid-point Forecasts

Helios, the unique investment vehicle which acquires and consolidates private underwriting capacity at Lloyd's, announces the current mid-point forecasts in respect of its portfolio of syndicate capacity for the 2017 and 2018 years of account based on 3(rd) quarter 2019 estimates.

 
                                          Year of Account 
                                     2017      2018    2019 
                                     GBPm      GBPm    GBPm 
Capacity - Position as at 15th November 
 2019 
Retained                             30.7      20.7    16.7 
Reinsured                            25.4      38.3    39.0 
                                   --------  --------  ---- 
                                     56.1      59.0    55.7 
 
Mid-point forecast at 30th June 
 2019                               (7.40)%   (3.56)% 
Current mid-point forecast          (6.51)%   (3.39)% 
 
Lloyd's Market Average              (9.01)%   (5.44)% 
Helios out performance                2.50%     2.05% 
 

Notes

1) The table shows the capacity as at 15(th) November 2019 splitting the capacity retained by Helios and the capacity that is ceded to quota share reinsurers.

2) The midpoint forecasts for 2017 and 2018 years of account as of 3rd quarter 2019 have been aggregated at syndicate level from estimates supplied by Managing Agents.

3) The change in the midpoint estimates on the retained capacity over the year will be recognised in the Helios income statement in the year to 31(st) December 2019.

Nigel Hanbury, Chief Executive, commented:

"As the only quoted consolidator of private capital at Lloyd's, Helios offers a unique opportunity for growth and returns from exposure to the Lloyd's market through targeted acquisitions of capacity on the better quality syndicates. We are delighted with the improvement in the results for both underwriting years and in the increased outperformance of the portfolio against the Lloyds' market"

For further information, please contact:

 
 Helios Underwriting plc 
 Nigel Hanbury - Chief Executive     07787530 404 / nigel.hanbury@huwplc.com 
 Arthur Manners - Chief Financial 
  Officer                            07754 965 917 
 
 Shore Capital 
 Robert Finlay/David Coaten 
  (Corporate Advisory)               020 7408 4050 
 Henry Willcocks (Corporate 
  Broking) 
 

About Helios

Helios provides a limited liability direct investment into the Lloyd's insurance market and is quoted on the London Stock Exchange's AIM market (ticker: HUW). Helios trades within the Lloyd's insurance market writing approximately GBP56m of capacity for the 2019 account. The portfolio provides a good spread of business being concentrated in property insurance and reinsurance. For further information please visit www.huwplc.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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November 18, 2019 02:00 ET (07:00 GMT)

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